The Recruiting-Retention-Benefits Connection

Put simply, any organization’s greatest asset is its people. In a competitive labor market with both current and expected talent shortages and an unprecedented level of turnover, it can be especially challenging to retain and recruit the right people. Forward-thinking employers that adopt a strategic approach to talent management take a wide view of the candidate-to-employee cycle, continually looking to strategically recruit, retain and reward their people. As a result, these organizations build a solid pipeline for talent and a robust retain-and-reward approach that:

The Recruiting and Benefits Connection

Having the right healthcare benefits heavily influences talent’s decision to accept a new position or to remain with a current employer. Historically, soaring primary plan costs have had employers highly focused on controlling benefit costs, often to the detriment of their employees. Today, many employees struggle with financial worry over rising out-of-pocket expenses and taking on more and more of the burden of their healthcare expenses. While Health Savings Accounts are in theory a way to help, the reality is that they are inadequately funded and have not been effective in alleviating employee concern. Half of responders to a Kaiser Family Foundation reported having delayed treatment due to cost and 40% of those enrolled in a High Deductible Health Plan said they don’t have the savings to cover their deductible.²

Healthcare coverage is the #1 benefit that employees value in any industry.¹

Effectively implementing a strategic approach to talent management means finding ways to optimize benefit costs while offering robust enough benefits to attract and retain the right people. It also requires breaking down traditional siloes within the HR processes—especially those between compensation and benefits.³ When organizations shift to a strategic recruit- reward-retain approach, they find that they are far more likely to attract, develop and advance talent that drives the delivery of their unique organizational strategy.∗

With this background in mind, what are some of the reasons for leveraging benefits and how can they help you boost your retention and recruiting efforts?

Win The War On Talent

Download our Recruiting-Retention-Benefits Connection eBook and gain valuable incite on five of the key topics when it comes to winning the talent war.

  1. Benefits Create Differentiation
  2. Boosting Benefits Can Cost Less Than Turnover
  3. Compensation And Benefits Go Together: It’s How Employees Think
  4. Boomers Are Retiring In Droves
  5. Focus on the Whole Employee